Dogecoin

Dogecoin ( sign: Ɖ; Abbreviation: DUKE ) is a derivative of Litecoin peer-to -peer crypto- currency, whose name and design based on the Internet phenomenon Doge.

History

Dogecoin was published on 6 December 2013. Although originally intended as a parody of Bitcoin and the rapidly increasing number of complementary currencies, the exchange rate of Dogecoin rose after the U.S. dollar rapidly in the first two weeks. On December 19, 2013 one for 1050 DUKE received a U.S. dollar and in terms of market capitalization, Dogecoin was the ninth largest crypto currency with 8.79 million U.S. dollars. The logo of the coin shows a Shiba, based on the " Doge ". On 10 January 2014, only four weeks after its release, 25% of all Dogecoins were already created by mining. On 19 January 2014, Dogecoin community Dogecoins collected worth about $ 30,000 for a possible Olympic participation of Jamaica's bobsleigh team. Then the Dogecoin price rose by 50 % and was associated with a market cap of 51.54 million U.S. dollars, the seventh largest crypto currency. On 31 January 2014, the Dogecoin was with a market capitalization of more than 61 million dollars already the fifth most valuable crypto currency. Currently collects the Reddit community - Dogecoin Dogecoins for a manned mission to the moon.

Differences to Bitcoin

Just as Litecoin used Dogecoin Scrypt in his proof-of -work algorithm. The biggest difference, however, in comparison to other crypto currencies is the immense number of coins that can be generated. While Bitcoin and Litecoin are limited to a total of 21 million, respectively, 84 million coins, the Dogecoin was originally designed for 100 billion coins. On February 2, 2014 published Dogecoin - founder Jackson Palmer, the decision to lift the limits.

Online Exchanges

Due to its novelty, the exchange rate itself is subject compared to Bitcoin sharp price movements and is traded only on a few online exchanges. Dogecoins on CoinedUp, Cryptsy, vircurex, Coins -e, BTER, octopus, BTC -8 and Prelude moment can be changed in Bitcoin. January 30, 2014, the Canadian online stock Vault of Satoshi offers trading U.S. dollar, making it possible to act Dogecoins without the detour via Bitcoin.